HSC Together Year 12 Economics: Increases in Aggregate Supply: Improvements in Efficiency and Technology

Economics

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Increases in Aggregate Supply: Improvements in Efficiency and Technology

Economic growth can be driven in the short run through increased aggregate demand (AD), but in the long run it is done through increases in aggregate supply (AS). This is done through improvements in efficiency and technology, which increases productive capacity and therefore output.

Watch the video to learn more about increases in aggregate supply in HSC Economics:

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